HealthEdge Completes Acquisition of LifeSync

HealthEdge Completes Acquisition of LifeSync

  Tampa, FL – May 4, 2012 – HealthEdge Investment Fund II, L.P. (“Fund II”) announced today that it has acquired a majority interest in LifeSync Corporation (“LifeSync”), its first portfolio company in Fund II.

Headquartered in Ft. Lauderdale, Florida and founded in 2000, LifeSync is a manufacturer and distributor of patent-protected, disposable, wireless, radiolucent ECG (or EKG) devices that have applications in numerous and diverse departments in hospitals and other surgical facilities. The product is designed to lower hospital costs due primarily to increased nurse productivity and patient mobility, improve the quality of vital signs and data transmission, reduce false alarms, enhance imaging results, and reduce the rate of infection at hospitals. The company has an excellent blue chip customer list, and the product is currently sold in the U.S. market through direct sales representatives.

In connection with the transaction, LifeSync has appointed Kim Davis as its Chief Executive Officer. Mr. Davis is a 25 year+ seasoned executive with a track record of improving shareholder value by making companies more efficient, productive, profitable, and global. Mr. Davis was most recently the Chairman, CEO, and President of SmartFlow Technologies, a company in the crossflow filtration space, where he held responsibility for all aspects of worldwide operations including sales, marketing, research and development, manufacturing, and finance. Mr. Davis successfully revived a near failed business (and investment) on behalf of a private equity fund culminating in a positive exit to a strategic buyer. Prior to that effort, Mr. Davis was the President and CEO of Porex Corporation, a subsidiary of WebMD Corporation, where he grew annual sales from $56 million to $122 million through organic growth, international expansion, and acquisition. Mr. Davis has also served as President and CEO of Gelman Sciences Inc., a manufacturer of life science disposables, FDA approved medical devices, and process filtration, where he grew annual sales from $81 million to $125 million and sold the business to Pall Corporation, and COO of Promega Corporation (a Baird Capital Partners portfolio company), a developer of molecular biology reagents, DNA and protein purification kits, fluorescent tags, and cellular regulation kits supplied to the pharma and biotech markets.

According to Mr. Davis, “I am very pleased and enthusiastic about joining the LifeSync team and working with HealthEdge to build a leading platform in the patient monitoring device space. I look forward to working closely with our sales team and supporting the growth and success of LifeSync.”

HealthEdge Managing Partner Brian Anderson said, “We are thrilled about entering the patient monitoring device market and believe LifeSync’s wireless and disposable alternative to fixed wire transmission has significant advantages over traditional lead wires. We intend to work closely with the LifeSync management team to grow the business organically and will also use the existing infrastructure as a platform to acquire new products in the patient monitoring space.”

ABOUT HEALTHEDGE HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge’s partners have more than 85 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.

ABOUT LIFESYNC CORPORTATION LifeSync, headquartered in Ft. Lauderdale, Florida, and founded in 2000, is a medical device company that develops and markets disposable, patient-worn devices that acquire and wirelessly transmit vital signs to patient monitoring systems. The LifeSync Wireless ECG system consists of a disposable LeadWear® set that aggregates ECG and resp iration date from the patient and, through its proprietary Bluetooth® transceiver devices, wirelessly transmits high quality data to any bed-side monitor. The LifeSync system is the first wireless electrocardiogram (ECG) data communications system appropriate for use in high acuity settings. For more information on LifeSync, visit www.lifesynccorp.com.

For more information, please contact Brian Anderson at HealthEdge Investment Partners at (813) 490-7100.